Receipt of Environmental Appr

RNS Number : 4552O

OPG Power Ventures plc

30 June 2010

 



OPG Power Ventures PLC

("OPG or the "Company")

Receipt of Environmental Approvals in respect of the Kutch 2 x 150 MW Facility (presently under development)

OPG, the developer and operator of Group Captive Power stations in India, is pleased to announce that it has received final environmental approval in respect of the 2 x 150 MW coal fired power station under development in Kutch which means all the necessary clearances and inputs required at this stage of the development are in place.

Construction at site is scheduled to commence in Q3 2010. Contracts for the boiler turbine generator were placed in March 2009 with BHEL and the manufacture and assembly of these units is proceeding on schedule.   

Tata Power Company Limited, the Project Managers, are taking effective steps to start the activities and it is expected that civil construction at site will begin in August 2010.

The Company is also pleased to announce that it has secured a coal linkage from the Government of India to cover 70 per cent. of the coal requirements of the Kutch facility.  This gives a significant level of security for the fuel supply for the operations of this plant, being a commitment of coal from public sector mines to supply the requirements of the power plant for its operating life. The Company's boilers are configured so that they may use a range of coal from Indian to Indonesian or a blend of differing coals.

Further updates about the progress of the development will be issued in due course.

Arvind Gupta, CEO commented, "This is another significant milestone for OPG in the quadrupling of its capacity from the present 107 MW of power generation to 407 MW and we look forward to the works commencing on site."

OPG Power Ventures Plc
Arvind Gupta (Managing Director)	[phone] [phone] [phone]
V. Narayan Swami (Finance Director)	[phone] [phone]
Martin Gatto (Senior Non Executive Director)	[phone]
Cenkos Securities (Nominated Adviser & Broker)	[phone]
Stephen Keys/ Camilla Hume
Tavistock Communications	[phone]
Simon Hudson / James Midmer

 

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